As an exclusive member benefit option, the Professional Liability Insurance Plan for AAA-CPA members offers protection against claims alleging errors, omissions and/or negligence arising from your professional services.

Unlike other professional liability plans, the AAA-CPA Professional Liability Insurance Plan includes advantages such as:

Comprehensive Definition of Legal & Accounting Professional Services
Coverage is available for activities including Executor, Administrator, Custodian, Trustee and Fiduciary, as long as the activities are part of your professional services. In addition, tax advice and estate trust services are included in coverage.

Elimination of Potential Grey Areas
This policy structure eliminates a scenario where two different insurance carriers (Lawyer Carrier and Accountant Carrier) may attempt to deny coverage on the basis that the area of practice involving the claim relates to the other carrier's policy.

Efficient and Cost Effective Application Process
By dealing with one insurance carrier, you only need to complete one application. Therefore, a quote can be completed in three to five business days.

Bloomberg BNAThe uncertainty in states' market-based sourcing rules for apportioning company income will yield a large number of audits and lawsuits going forward, tax practitioners predict.
Almost half of states have adopted market-based sourcing in some form, but taxpayers aren't getting clear enough guidance from states on how to apply the rules, Michael Bryan, a director at Deloitte Tax LLP, said during a Feb. 14 Deloitte webcast on state tax controversies.READ MORE

CPA Practice AdvisorIn 2017, when it comes to sales tax, states are taking stances on everything from soda to streaming content, tobacco to tampons. The new year will also bring renewed efforts by states to implement internet sales taxes and continue the legal battle to overturn existing legislation.
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ForbesSince the election of President Donald Trump, Washington, D.C., has been buzzing with talk of tax reform. Yet, surprisingly little attention has been paid to the effect federal tax reform might have on state tax systems across the country. Because most state, individual and corporate income tax systems rely heavily on federal rules, definitions and calculations, what happens with federal tax reform has broad ramifications on state taxation.
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AccountingWEBThe IRS has improved its identification of fraudulent tax returns that involve identity theft, but the agency needs to be more accurate in its identity theft estimates, according to a new report from the Treasury Inspector General for Tax Administration.
TIGTA performed an audit to determine how effective the IRS is at detecting and preventing identity theft. The watchdog also looked at how the IRS is measuring undetected identity theft and coordinating identity theft information with other agencies and tax industry partners.
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The New York TimesThe future of the estate tax is in debate again. President Donald Trump promised to eliminate it during the campaign last year. "No family will have to pay the death tax," Trump said at the Detroit Economic Club in August. "It's just plain wrong and most people agree with that. We will repeal it."READ MORE

The Washington PostThe Trump administration is taking its first steps to put its imprint on the health care law, reversing plans to withhold tax refunds this year from Americans who flout an insurance requirement in the law while proposing a series of rule changes to encourage insurers to remain in Affordable Care Act marketplaces.
The IRS has revoked an Obama-era instruction to taxpayers that was taking effect during the current filing season as a way to further compliance with the Affordable Care Act's requirement that most Americans carry health insurance or pay a tax penalty.READ MORE